Netflix (NASDAQ:NFLX) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $725.00 price objective on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q2 2024 earnings at $4.70 EPS, Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

A number of other brokerages have also recently issued reports on NFLX. Robert W. Baird raised their price objective on Netflix from $500.00 to $600.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. KeyCorp raised their price objective on Netflix from $580.00 to $705.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Benchmark reaffirmed a sell rating and set a $440.00 price objective on shares of Netflix in a research note on Thursday. Jefferies Financial Group raised their price objective on Netflix from $580.00 to $700.00 and gave the company a buy rating in a research note on Tuesday, March 12th. Finally, Pivotal Research raised their price objective on Netflix from $765.00 to $800.00 and gave the company a buy rating in a research note on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 9.1 %

NFLX opened at $555.04 on Friday. The stock has a market cap of $240.20 billion, a PE ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The business’s fifty day simple moving average is $605.65 and its 200 day simple moving average is $513.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 earnings per share. As a group, research analysts expect that Netflix will post 17.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Gregory K. Peters sold 13,655 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the company. Columbia Trust Co 01012016 raised its holdings in Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares during the last quarter. Crumly & Associates Inc. raised its holdings in Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares during the last quarter. Venture Visionary Partners LLC raised its stake in Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after buying an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC raised its stake in Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.